Berenberg keeps Buy rating for Hiscox stock

Published on 10/02/2026 at 15:12 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Berenberg targets GBp 2,150.00 and keeps Buy on September 30, 2026. Hiscox stock costs EUR 21.79 after EUR 21.72, plus 0.32 percent.

Hiscox Ltd BMG4593F1389 zeigt Makroaufnahme eines gestempelten Versicherungsdokuments mit Siegel und Tinte, Illustration mit AI erstellt.

Hiscox stock (ISIN BMG4593F1389) was trading at EUR 21.79 at Lang & Schwarz on October 2, 2026, up 0.32 percent from the prior close of EUR 21.72. According to The Globe and Mail on September 30, 2026, Berenberg reiterated a Buy rating and set a GBp 2,150.00 price target for Hiscox.

Analyst target follows growth upgrade

The Berenberg target gives the latest market context for the Bermuda-based insurer after its first-half operating update. The target is stated in pence on the London Stock Exchange and is separate from the EUR 21.79 Lang & Schwarz quote.

Hiscox's management raised 2026 Retail growth guidance to 9 percent in constant currency, from an earlier range of 8 percent to 9 percent. The upgrade followed first-half Retail insurance contract written premium growth of 12.60 percent to GBP 1.6 billion, according to the Yahoo Finance transcript of the August 5, 2026 results call.

Profit and underwriting remain central

The same first-half 2026 transcript recorded adjusted operating profit before tax of GBP 331.0 million, an increase of 26.30 percent from the prior year. The insurance service result rose 30.20 percent to GBP 255.4 million, while the undiscounted combined ratio improved to 90.40 percent.

The figures show why Retail growth is central to the valuation debate, but the business mix remains broader than one segment. Hiscox operates across Retail, London Market and Reinsurance, and management said Reinsurance delivered a 70.40 percent undiscounted combined ratio in the first half of 2026. The group also reported a GBP 60.0 million net reserve for Middle East conflict losses, a counter-factor for investors assessing underwriting resilience.

Stock remains below the yearly high

Finance data put the London-listed share at GBp 1,853.00 at 1:10 p.m. London time on October 2, 2026, with a 52-week range of GBp 1,288.00 to GBp 1,966.44. The separate euro quote was trading at EUR 21.79 at Lang & Schwarz on October 2, 2026 at 3:04 p.m. CEST, plus 0.32 percent versus the Lang & Schwarz prior close of EUR 21.72.

The further course of trading is shown by the continuously updated real-time quote of Hiscox stock.